Tom Subranni, an experienced bankruptcy attorney representing clients for over 35 years, practices bankruptcy law in South Jersey. He has conveniently-located offices throughout South Jersey. When Tom is not representing clients, he is working as a Bankruptcy Panel Trustee and conducts 341(a) hearings. He is the senior bankruptcy trustee in the tri-state area, the co-founding director and past president of the New Jersey Bankruptcy Trustees' Association.

Many persons with financial problems live with and make many wrong financial and personal moves without first considering the bankruptcy alternative. Tom says this is a major mistake and he attributes it to the fact that people don't like to even hear the word "bankruptcy." That is unfortunate, but attitudes are changing. One out of every 100 families in the United States filed or will file bankruptcy this year. The stigma is no longer there. After two years, most debtors qualify for government insured mortgages if they otherwise qualify.  Credit card companies are even targeting debtors and offering credit, which, of course, should be refused. The idea is to learn to live within one's means, debt-free. Sleep comes a lot easier for those who live debt-free. Yes, there is a chance for a Fresh Start.

Tom says that many financially-strapped folks do not seek bankruptcy information soon enough, causing permanent financial and personal loss. For example, any kind of "re-financing," "debt consolidation," or "debt counseling" plan is not recommended. A Chapter 7 or Chapter 13 can take care of the problem without the need for that burdensome second mortgage (putting the house on the line), equity loan, credit balance transfers, and the like. And Tom absolutely recommends against borrowing from 401 (k) or other type of pension plan. A much better plan is to start over with the Bankruptcy "Fresh Start" and be the wiser by avoiding credit in the future.

Chapter 7 and Chapter 13 work wonders. For example, under Chapter 7, all credit card debt, personal loans, income taxes (over three years old - see "questions and answers"), car repossession deficiencies, and other types of debt are forever forgiven. And, all possessions including bank accounts, cars, pension and IRA plans (in all cases) and real estate are protected from creditors provided the value or equity falls within your "exemptions"  Call to discuss exemptions. If money is owed on a car, the debt can be reaffirmed and the payments continued as if no bankruptcy were ever filed regarding the car.

Chapter 13 is even a more powerful tool. It forces a mortgage company to reinstate a mortgage and accept back payments over a period up to a 5 years. See the "question and answer" section for a discussion on DMV surcharges and income taxes.  Car payments can be stretched out and if the car loan is more than 2.5 years old, the payoff can be lowered to retail value considering the age and condition of the car.

Both Chapter 7 and 13 offer you a Fresh Start allowing you to fix your credit and re-establish yourself.

Tom would be happy to take any phone calls from the public to discuss in general terms how bankruptcy can help you out of your financial mess. Call him at one of the following numbers:

1-800-391-5706;
609-347-7000;
609-641-2202;
609-561-3305;
609-641-3912;
609-691-4002;
609-625-2777.
In case of an emergency during off-hours, call: 609-335-1882.

Contact the experienced and caring New Jersey Bankruptcy lawyers at Subranni Ostrove & Zauber for free, confidential information. See if you qualify and if bankruptcy is right for you!